Presbyter
an
Hillsborough Presbyterian Church a congregation of the
Presbyterian Church in Ireland
Financial Statements
for the year ended 31 December 2024
Registered with the Charity Commission for Northern Ireland NIC105135

an
HILLSBOROUGH PRESBYfERIAN CHURCH
a congregation of the Presbyterian Church in Ireland
STATEMENT OF FINANCIAL ACTIVITY
For the year ended 31 December 2024
Unrestrirted
Funds
Restricted
Funds
Endowment Total Funds
Funds
2024
Total Funds
2023
Notes
Income and Endowments
from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
174,783
4,996
78,073
56,719
252,856
61,715
245,831
71,328
2.526
19
874
3,400
3,078
2,037
3,297
3,059
Total
182,324
138,725
321.049
322.493
Expenditure on:
Raising Funds
Charitable activities
Other
818
229,975
818
880
370,333
132,593
362,568
Total
230,793
132.593
363,386
371,213
Net gains/{lossesl on investments
Net Income/ (expenditure)
Transfers between funds
Gainslllosses on revaluation of
fixed assets
-48,469
7,624
6,132
-7,624
42,337
48.720
18
13
7.019
2,484
1,556
11,059
16,221
Net movement in funds
Reconciliation of funds=
Total funds brought forward
-33,826
992
1,556
-31,278
-32,499
1,611,185
146,603
32,904
1,790,692
1.823.191
Total funds carried forward
1,577,359
147,595
34,460
1,759.414
1,790,692
14

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HILLSBOROUGH PRESBYTERIAN CHURCH
a congregation of the Presbyterian Church in Ireland
BALANCE SHEET
As at 31 December 2024
Total
Funds
2024
Total
Funds
2023
Unrestricted Restricted Endowment
Funds
Funds
Funds
Notes
Fixed assets
Tangible assets
Investments
Total fixed assets
12
1,377,632
103.812
1,481,444
0 1,377,632 1,416,318
34,460
178,831
167,772
34,460 1,556,463 1,584.090
13
40.559
40,559
Current assets
Debtors
Current Investments
Cash at bank and in hand
Total current assets
14
9,440
6,649
16,090
17,346
15
92,324
101,764
118,992
125,641
211,316
227.406
217,313
234,659
Liabilities
Creditors.. Amounts falling
due within one year
Net Current assets
16
5,849
95,915
18,606
107,035
24,455
202.951
28,057
206,602
Total assets less current liabilities
Creditors.. amounts falling due
after more than one year
Provisions for liabilities
Total net assets or liabilities
17
1.577,359
147,594
34,460 1,759,414 1,790,692
Funds of the charity
Endowment funds
Restricted income funds
Unrestricted funds
Revaluation reserve
Total charity funds
18
18
18
34,460
34.460
32,904
147,595
146,603
0 1,577,359 1,611,185
147,595
1,577,359
1,577,359
147,595
34,460 1,759,414 1,790.692
Approved by the Kirk Session and signed on its behalf by -
Rev Dr Allen Sleith
Joyce McKee
I" June 2025
15

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HILLSBOROUGH PRESBYTERIAN CHURCH
a congregation of the Presbyterian Church in Ireland
NOTES TO THE ACCOUNTS
31 December 2024
ACCOUNTING POLICIES
BASIS OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial
Reporting Standard applicable in the UK and Ireland IFRS1021 (effective l January 20151.
The financial statements have been prepared under the historical cost convention except for investment assets,
which are shown at market value. The financial statements include all transactions, assets and liabilities for which
the congregation is responsible in law. They do not include the accounts of church groups that owe their
affiliation to another body, nor those that are informal gatherings of church members.
FUND ACCOUNTING
Endowment funds are funds, the capital of which must be retained either permanently or at the congregation's
discretion: the income derived from the endowment is to be used either as restricted or unrestricted income
funds depending upon the purpose for which the endowment was established in the first place.
Restricted funds comprise {a} income from endowments which is to be expended only on the restricted purposes
intended by the donor and Ib} revenue donations or grants for a specific congregational activity intended by the
donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the
individual funds on an average balance basis.
Unrestricted funds are income funds which are to be spent on the congregation's general purposes. Designated
funds are general funds set aside by the congregation for use in the future.
ACCOUNTING POLICIES (cont'd)
INCOMING RESOURCES
Recognition of incoming resources
These are included in the Statement of Financial Activities ISoFA} when:
the congregation becomes entitled to the resources;
the trustees are virtually certain they will receive the resource5,' and
the monetary value can be measured with sufficient reliably
(li) Incoming resources with related expenditure
Where incoming resources have related expenditure las with fundraising income) the incoming resources and
related expenditure are reported gross in the SOFA.
Grants and donations
Grants and donations are only included in the SOFA when the congregation has unconditional entitlement to the
resources.
(iv) Tax reclaims on donations and gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
(v) Contractual income and performance related grants
This is only included in the SOFA once the related goods or services have been delivered.
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Presbyter
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{vi) Gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually
realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by
the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
{vii) Donated services and facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the
benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources 15
the estimated value to the charity of the service or facility received.
(viii)Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees, annual
report.
(ix) Investment Income
This is included in the accounts when receivable.
(x) Investment gains and losses
This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments
to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Ixi) Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the congregation to pay
out resources.
{xii)
Governance costs
These are Shown within charitable activities and include the costs of preparation and examination of accounts,
the cost5 of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.
(xiii) Grants with performance conditions
Where the charity gives a grant with conditions for it5 payment being a specific level of service or output to be
provided, such grants are only recognised in the SOFA once the recipient of the grant ha5 provided the specified
service or output.
(xiv) Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be
met relating to the grant which remain in the control of the charity.
ASSETS
(xv) Tangible Fixed Assets
Tangible fixed assets for use by charity are capitalised if they can be used for more than one year, and cost at
least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation is recorded on all tangible fixed assets other than freehold land, at rate5 calculated to write off the
cost, le55 estimated residual value, of each asset over its expected useful life as follows
Buildings=
over 50 years
Fixtures, fittings and equipment
over 10 years
Motor Vehicles
over4 years
Computers, software and technical equipment
over 4 years
(xvi) Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment
a55ets are included at trustees, best estimate of market value.
17

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HILLSBOROUGH PRESBYfERIAN CHURCH
a congregation of the Presbyterian Church in Ireland
Notes to the Accounts
31 December 2024
2. Donations and Legacies
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
Recorded giving
Loose
Donations and gifts
Gift Aid
Legacies and bequest
131,132
4,620
9,334
29,697
54,600
1,643
7,876
13,954
185,732
6,263
17,210
43,651
185,162
4,132
15,564
39,973
1,000
245,831
174,783
78.073
252,856
3. Charitable Activities
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
Income from charitable activities
Fees from weddings and funerals
Membership fees
Fundraising events
Grants
2,362
175
33,465
35,827
175
7,443
8,122
10,148
30,882
7,443
8,122
7,689
56.719
8.205
6,064
26,177
71.328
2,459
4,996
61,715
4. Other Trading Activities
Unrestrlcted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
Letting of premises
Trading income
5. Investments
Unrestricted
Funds
Restrirted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
Deposit Interest
General Investment Fund
Property Rents
Other investment income
2,216
310
125
2,341
1,059
1,187
850
749
2,526
874
3,400
2.037
18

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Notes to the Accounts
31 December 2024
6. Other Income
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
Insurance Claim5
Other Income
19
3,059
3,059
3,078
3,078
3,297
3,297
19
7. Raising Funds
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
FWO envelopes
Fundraising events
818
818
880
818
818
880
8. Charitable Activitles
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
General A55embly Assessments
Presbytery Fees
Ministry and support staff cost5
Congregational running expenses
Donations to Missions & charities
Governance costs
28,188
1,548
118,922
73,609
2,862
4,846
229,975
28,188
1.548
149,463
134,440
43,747
5,182
362.568
26,683
1,219
147,814
148,086
38,886
7,645
370,333
30,541
60,831
40,885
336
132.593
9. Other Expenditure
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
Investment Property expenses
19

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Notes to the Accounts
31 December 2024
10. Employees
Total Funds Total Funds
2024
2023
Employment Costs
Wages and Salaries
Social Security Costs
Pension contributions
124,741
12,220
15,159
152.120
123,320
11,960
14,840
150.120
Number of employees
The average number of employees, including the minister of the congregation, during the year was:
2024
2023
Average number of employees
There were no employees in receipt oof employee benefits in excess of £60,000.
11. Pension Costs
The minister of the congregation is a member of the Presbyterian Church in Ireland Pension Scheme120091. This is a
scheme operated by the Presbyterian Church in Ireland, a separate registered charity. The congregation pays an
assessment to the Presbyterian Church in Ireland equivalent to the employer's pension contribution for the Scheme
and based on the stipend paid to the minister. The Presbyterian Church in Ireland Pension Scheme120091 is a funded
Scheme of the defined benefit type, providing defined benefits based on career average revalued salary. The Scheme
has assets held in a separately administered fund managed by a board of trustees. The Presbyterian Church and the
Scheme Trustees have agreed a funding plan to ensure the Scheme is sufficiently funded to meet current and future
obligations. A formal schedule of contributions was drawn up on 25 November 2015 whereby the Presbyterian Church
agreed to pay from 31 December 2015 contributions of 24% of pensionable salaries to cover the accrual of benefits for
future service, expenses, the cost of insuring death in service benefits and funding the scheme deficit.
The contributions made by the congregation during the year were:
Total Funds
2024
Total Funds
2023
Contributions
11.943
11,374
The congregation operates a defined pension contribution policy for its employees. The scheme and its assets are held
by an independent scheme manager. The pension charge represents the contributions due from the congregation
during the year:
Total Funds
2024
Total Funds
2023
Contributions
3,216
3,465
20

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Notes to the Accounts
31 December 2024
Land &
Buildings
Fixtures &
Fittings
12. TANGIBLE FIXED ASSETS
Cost or Valuation
At start of year
Additions
Disposals
At end of year
Vehicles
Total 2024
1,833,850
20,130
1,853,980
1,833,850
20,130
1,853,980
Depreciation
At start of year
Provision for year
Disposals
At end of year
423,458
36,673
14,204
2,013
437,662
38,686
460,131
16,217
476,348
Net Book Value
At start of year
At end of year
1,410,392
1,373,719
5,926
3,913
1,416,318
1.377,632
Unrestrlcted
Funds
Restricted
Funds
Endowment
Funds
Total
Funds 2024
Total Funds
2023
13. Investments
Value at start of year
Additions
Disposals
Gains / (Losses} on revaluation
Value at end of year
96,793
38,075
32,904
167,772
151,551
7,019
103.812
2,484
40,559
1,556
34,460
11,059
178,831
16,221
167,772
21

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Notes to the Accounts
31 December 2024
14. Debtors
Total
Funds
2023
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Gift Aid Recoverable
Accounts Recoverable
4,363
5,077
9.440
5,609
1,040
6,fJ49
9,973
6.117
16.090
8,921
8,425
17.346
15. Cash at Bank
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
Danske Bank
Santander
Cash in Hand
92,324
118,725
267
211,049
267
217,046
267
92.324
118.992
211,316
217.313
16. Creditors: Amount falling due within one year
Unrestricted
Funds
Restricted
Funds
Endowment
Funds
Total Funds
2024
Total Funds
2023
Accruals
Interest Free Loan
Other
5,849
18,606
24,455
28,057
5,849
18,606
24,455
28,057
17. Creditors: amount falling due after more than one year
Unrestricted
Restricted
Funds
Funds
Endowment
Fund5
Total Funds
2024
Total Funds
2023
22

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Notes to the Accounts
31 December 2024
18. Fund balances and reconciliation of funds
Balance at 01
Jan 2024
Gains /
Losses
Balance at 31
Dec 2024
Income
Expenditure
Transfer
Unrestricted Funds
General Fund
Capital Reserve
Capital Reserve GIF
Reserve Fund
LCCC
1,459,222
16,865
96,793
35,000
179,865
-227,205
3,800
6,000
1,415,682
22,865
103,812
35,000
7,019
1,680
779
182,324
-246
-3,342
-230,793
-1,434
-742
PHA
3,305
1,611,185
7.019
7,624
1,577,359
Restricted Funds
Helping Hands
HPC Fundraising
Catering
Manse Reserve Fund
Property Fund
Youth Development Fund
Ukraine Fund
United Appeal Fund
World Development Appeal
Moderators Appeal
Sunday School Fund
Summer Scheme Fund
Organisations
TW Welsh Memorial
Organ Fund
Young Adults Group GIF
Young Adults Group
Evergreens
Parent & Toddler
Presentation
Host
Choir
Choir Robes
Presbyterian Men
Girls, Brigade
Boys, Brigade
Presbyterian Women
Indoor Bowling
Badminton Club
Youth Account
246
246
22,858
18,768
20,997
3,675
-7,040
-1,542
-9,867
-2,133
16,619
24,052
29,938
2,918
1,204
17,823
15,270
20,151
3,300
24,284
20,754
2.281
14,652
12,118
26
-33,466
-30.541
-1,899
-15,228
-12118
400
576
-26
85
106
2,285
1,475
1,250
191
1,715
982
282
-1,552
-1757
5,000
6,250
10,873
11,864
10,382
11,075
491
789
937
413
277
-342
872
650
1,235
400
1,063
-1,235
-255
196
81
255
341
81
255
38
10,674
15,684
2,244
815
38
7,834
13,469
2,921
974
596
8,797
6,514
3,430
601
606
-6,149
-5,104
-4,197
-460
192
805
90
-300
-400
-230
-99
-11,340
-132,593
703
4,278
147,595
3,536
146,603
12,312
138,725
-7,624
23

an
Notes to the Accounts
310ecember 2024
18. Fund balances and reconciliation of funds (cont)
Balance at 01
Jan 2024
Gains /
Losses
Balance at
31 Dec 2024
Income
Expenditure
Transfer
Endowment Funds
Henry Bell I
George Bell
John Lappin
Philpot and Archer
Miss Patterson
Miss Bell
1,053
1,679
2,545
386
50
79
1,103
1,758
2,666
405
121
19
227
io
237
853
1,066
400
40
893
1,117
419
J Sterritt
51
Miss EJ Brown
19
79
53
16
Henry Bell 2
James D Dorman
Miss M Gardner
Miss M Wilkinson
Henry Bell 3
Andrew Lillie
Main Street House
Rev JH Orr
1,652
1.119
347
1,973
1,052
214
1,731
1,172
363
2,066
1,103
223
93
51
533
240
160
4,118
893
400
25
558
251
167
4,313
935
li
Mrs EF Orr
Emily M Smyth
Miss Mary Starrett
Miss Sadie Baxter
Thomas G Tate
Mrs M Ball
195
42
19
419
2,512
907
2,399
866
113
41
Isaac Mahood
Edith Irvine Memorial Beq
533
25
388
558
8.196
32,904
8,584
34,460
1,556
Total Funds
1.790,692
321,049
-363,386
11,059
1,759,414
24

Presbyter
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Notes to the Accounts
31 December 2024
19. Related Party Transactions
One of the Trustees, the minister of the congregation received remuneration of £49,764 and expenses of
£7.387 for acting in that capacity. Pension contribution of £11,943 were paid by the congregation in respect
of the minister to the Presbyterian Church in Ireland Pension Scheme12009}. None of the other trustees
received any remuneration.
During the year the congregation contributed the following amounts to Funds of the General Assembly of
the Presbyteria n Church in Ireland a separate charity..
£16,245 for congregational assessments
£15,228 towards the United Appeal
£12,118toward the World Development Appeal
The congregation contributed £1,548 towards Presbytery Assessments during the year.
There were no other related party transactions.
25